NI 43-101 report
Bearing Lithium Corp. is a mineral exploration and development company, primarily focused on lithium. Its primary asset is a free-carried 17.7% interest in the Maricunga lithium brine project in Chile. The Maricunga project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over US$30 million has been invested in the project to date and all expenditures through 2018, including the delivery of a Pre-Feasibility Study in Q4/17 and a Definitive Feasibility Study in H1/18, are fully-funded by their earn-in joint-venture partner.
The Maricunga project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Chile is host to some of the most prolific lithium brine deposits in the world, namely the Salar de Atacama which is the highest grade and lowest cost operation, and accounts for over 40% of lithium production globally. The Maricunga is located in Region III of Atacama in northern Chile with good access to infrastructure. It is located along International Highway 31 which connects Chile and Argentina, approximately 170 kilometres northeast of the mining town of Copiapó, and has multiple avenues to access power from an underutilized grid. The project is host to a NI 43-101 M&I resource of 1.7million tonnes of lithium carbonate equivalent (“LCE”) at a grade of 1,143 mg/L lithium (Li) plus an Inferred resource of 0.4 million tonnes of LCE at a grade of 1,289 mg/L Li. The project is comprised of a number of tenements totaling 4,463 hectares, of which some are grandfathered under a previous mining code which may allow for the exploitation of lithium.
Under the terms of the joint-venture agreement, Bearing Lithium has a free-carry on project expenditures through 2018 which includes the delivery of a Definitive Feasibility Study (DFS) in H1/2018. The Maricunga JV is an agreement between Bearing Lithium Corp. (TSX:BRZ), Minera Salar Blanco (private company) and Lithium Power International (ASX:LPI), whereby Lithium Power International is earning into the project by funding all expenditures. Lithium Power International has secured 32.5% of the Maricunga project to date with remaining capital commitments of US$9.5 million required to earn a total of 50.0%. Upon completion of their earn-in, Bearing will hold a 17.7% final interest in the project along with Minera Salar Blanco at 32.3% and Lithium Power at 50.0%. The projected expenditures are anticipated to carry the project through the deliver of a Pre-Feasibility Study in Q4/17, a Definitive Feasibility Study (DFS) in H1/18, and environmental and regulatory permitting.
Vancouver, British Columbia - Bearing Lithium Corp. ("Bearing" or the "Company") (TSX Venture: BRZ) (OTCQB: BRGRF) (FRANKFURT: B6K1) is pleased to announce it has settled its outstanding current financial liabilities..Read more
Vancouver, British Columbia - Bearing Lithium Corp. ("Bearing" or the "Company") (TSX Venture: BRZ) (OTCQB: BRGRF) (FRANKFURT: B6K1) confirms that Minera Salar Blanco SA (“MSB”), the company that holds the Maricunga ..Read more
Vancouver, British Columbia - Bearing Lithium Corp. ("Bearing" or the "Company") (TSX Venture: BRZ) (OTCQB: BRGRF) (FRANKFURT: B6K1) is pleased to announce the appointment of Dr. Lee Sungwon, a nominee of POSCO, to t..Read more
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